DBJ, Japan Wind Development to form $423m fund

Each group will contribute half of the corpus, according to a release. It also noted that the growth potential and cost competitiveness of wind power could prove crucial as Japan increases carbon emissions targets and pursues greater energy independence.

Demand for alternate energy sources has been in high since the 2011 Great East Japan Earthquake, which triggered the Fukushima Daiichi nuclear disaster, and the subsequent shutdown of the nation's nuclear reactors. Feed-in tariffs for renewable energy were introduced in 2012 and there is also a guarantee of fixed purchase prices for electricity from renewable sources for a 20-year period.

Wind power currently accounts for 0.5% of the country's energy mix, but the government wants this to reach 5.1% by 2030 - up from the 1.7% target set prior to the earthquake.

According to JWD's website, the company operated 24 wind powered plants as of September 2015 and three in Germany. The overall capacity was 300,350 kilowatts, although the DBJ release puts it at about 500,000 KW. Bain acquired JWD through a privatization worth JPY9.7 billion ($80 million).

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• Topics
• Cleantech
• Infrastructure
• Fundraising
• North Asia
• Fundraising
• Cleantech
• Japan
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• The Development Bank of Japan (DBJ)